Friday Facts August 2, 2013

Home Sales Slipped in June, FHA Loan Holders Have to Wait, Women Outnumber Men Among Unmarried Homeowners

  • Nationwide, existing home sales slipped 1.2% in June compared with May, and inventory rose 1.9%.  However, sales were up 15.2% compared with June 2012.  The median rose 13.5% year over year to $214,200.
  • Buyers who had FHA loans may have to wait only 3 years after foreclosure/short sale if they can prove that a hardship such as job loss or death of a wage earner led to foreclosure or short sale.  Freddie Mac’s wait is 4 years post short sale or deed-in-lieu and 7 years post foreclosure.  Fannie Mae may require a 7 year wait after a foreclosure, but only 2 years post a short sale with a 20% down payment.
  • Middle age women ages 45-54 have become the fastest growing group of single female home owners, up 120% from 1982-2012.  Women have outnumbered men among unmarried home owners since 1982 when the Census Bureau started collecting such data.
  • Foreign purchase of real estate in the U.S. is down 17% for the 12 month period ending in March from $82.5 billion to $68.2 billion.  Homes over $1,000,000 dropped to 6.5% of foreign sales from 10%.  Analysts attribute this to the slow-down in China and Brazil.
  • “We see our fair share of foreign purchases on Cape Cod. Popponesset and Falmouth have a high concentration of Russian, Irish and other European purchasers.” – Lynette Helms, Real Estate Associates CEO

Data from Realtor.com

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